Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-06-17
COMMERCIAL RESUME.

L
Cific incomes st so; Houston and Texas
Central l's at lI7g; Galveston, Harris
burg and San Antonio rs al 933; Gulf,
Colorado and Santa Fe 2's ct 1863; MIS-
souri,, Kansas and Texas SIS at So; Cps
at SD.
Money u per cent.
Governments steady.
Sterling wesks-
Silver 95I.
Wheat strong.
Oil closed g. G25
Cotton los points higher.
Coffee advanced 30 TO So points
Sugar quiet.
MEETING THE MARGINS.
CHICAGO, III, June 1G.-A loca paper
says that Kershaw & Co. will meet the
demands for margins made upon them
to-day, notwithstanding their failure 10
90 through the clearing house yesterday.
The announcement of the firms complete
solycnCy com in an official way, and
from sources inst cannot be questioned.
The report that R0senfeld began q suit
against kershaw is 4 mistake. The rumUr
doubtless grew out Of the fact that
LinoloOn began q suit and gsTnisheed
the American Exchange National bank,
laying his damages at S25, 900, although
1t only involves q check for $4,000
ROSenteld has commenced : suit against
Wiltshire & Eckart, but he has not gar
nisheed the bank. This statement is in
the nature Of q promise that 5000 600
which will be made up for the firm to-
day will be paid in full, $500, 900 having
been paid yesterday. This will tide over
s large number Of small houses which
are now hanging on. In general financial
circles the second day Of the panic was
even more quiet aud uneventful than the
first. There seemed 10 be no doubt that
all the banks have demanded
wide margins on their wheat loans
or that the collateral now
held 90 them is more than sufficient to
save them from the loss. The banks |
have not kept the condition Of their |
books TO themselves, but prudently let !
one another know Just how they stand |
All that the Board of Trade now ask Of |
the banks is that they Go not ask for |
more collateral If they do, grain men |
look fora panic Of the worst kind.
THE TWO DAYS FAILURES.
CHICAGO, III, June ia notice |
posted up ia tha window Of KershaW & |
Co.'s Office this morning stated that the .
firm expected 20 pay ell their differences |
today.
When the market opened ct $3.50, the |
first sales We're lie Tor June and 73c for |
July.
The failures OF yesterday numbered |
fifteen. They were;
Crosby & Co, $75, 600.
II. r. Matthews, $50, OCO.
j. A. Edwards < Co, $4,000.
NJ. 3. Crefts & Co, $40, 600
3 J. NcCle4ry & Co, So, 600
Pickering & CO. $4,000
S. D Eldredge & Co,Sl8, 600.
Gregg, Son & Co, $4,000.
Hard Bros. & Co, $4,000.
T L. BaldiHg & Co, $1,000.
J Il. Yourt & Co. $4,000.
HinDard 4 Co, $4,000
NJ. S. Robinson & Co, $500.
Yourt & BreOrly, $4,000.
=. E..OT, $4,000
Total, 1851 900.
Including the failures Of the day before,
~ Resented & Co., Hamill & Brine,
and L. L. Bailey & Co, there is total Of
nineteen, with the aggregate liabilities
approxmating S2,00O,00U.
The facts in regard to the deposit of
money for KeTshaW & Co. yesterday at
the American Exchange Bank, on which
he founded bis promise tC pay in full,
arc made public this morning. Wiltshire
did deposit 100000 to the credit of
KeTshaW & Co. Yesterday morning when
c. J. Kershaw left there ct O'Clock after
an hours consultation with Wiltshire and
several bank directors there was nearly
100000 on deposit subject, as he sup
posed TO MS check. He hurried down to
the Office of Armour & Co. At 1915 he
was told his checks were being thrown
out by the American Exchange National.
The trouble was that immediately after
Wiltshire produced $500, GOO TO go, as he
supposed, to the credit of Kershaw, Ir-
win, Green 6 Co, demanded half Of it.
President Irwin is the senior partner in
this house and had this advantage that he
could credit the money as he was dis
posed TO. When Kershaw's check for
$500, 900 from the clearing house went
down for Certticdton, it was thrown out.
Some big checks had, however, gone
through aIl right before, aggTegating per
maps $50, 600. Armour said this morn
ing: "The amount Of loss TO this mar
ket is mo- near so Sc
we're as some unfortunate ones
are claiming The failures, so far, are of +;
men who were broke before this panic.
and who were simply waiting for good
excuse. Nobody can lose money on
Kershaw, for he is msrgined way down.
| offered 724c for OIe-half million bushels I
of wheat 10 bank yesterday when the
market on the board was nOmiraiy zoe, I
and the bank would not sell it. The
banks all say they will not sell. There
would have been a great deal Of cash
wheat taken yesterday, but you could
not 90 business"
A CONSULTATION.
1880 A. Mt IS said & meeting of the
directors of the board will be held. An
effort is being made by the creditors of
Kershaw to induce the directors to force
Charley Eggleston 20 assume the respon-
sibiIity of Kersbaw's debts. Eggleston
is millionaire, and it Is said he has
been the special partner of kershsw for
some time. 1t is also rumored that s
long conference was held in ArmOur's Of
lce this morning, at which efforts were
made ID induce Armour 30 put up money
to carry Hershaw through.
4 TEMPORARY LULL.
ia. M.-The appearance which Whest
presents gt this hour is ludicrOus as COM